Trustmark Corporation (NASDAQ:TRMK) Receives Consensus Rating of “Hold” from Brokerages

Trustmark Corporation (NASDAQ:TRMK) has received an average rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $43.8333.

A number of research analysts have commented on TRMK shares. Hovde Group upped their price target on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. Wall Street Zen downgraded Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, DA Davidson lifted their price target on shares of Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, January 29th.

Hedge Funds Weigh In On Trustmark

A number of institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV boosted its position in Trustmark by 9.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,393 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 1,090 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Trustmark in the 4th quarter valued at approximately $207,000. Empowered Funds LLC boosted its position in shares of Trustmark by 107.6% during the fourth quarter. Empowered Funds LLC now owns 245,602 shares of the financial services provider’s stock valued at $9,566,000 after purchasing an additional 127,284 shares in the last quarter. Voloridge Investment Management LLC boosted its position in shares of Trustmark by 2.8% during the fourth quarter. Voloridge Investment Management LLC now owns 114,257 shares of the financial services provider’s stock valued at $4,450,000 after purchasing an additional 3,146 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its stake in Trustmark by 174.7% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 23,981 shares of the financial services provider’s stock worth $934,000 after purchasing an additional 15,251 shares during the period. 67.64% of the stock is owned by institutional investors.

Trustmark Trading Up 1.0%

Shares of TRMK opened at $44.72 on Monday. The stock has a market capitalization of $2.68 billion, a P/E ratio of 12.05 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $41.69 and a two-hundred day simple moving average of $39.94. Trustmark has a twelve month low of $29.77 and a twelve month high of $45.43.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $209.44 million for the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. During the same quarter in the previous year, the company earned $0.92 earnings per share. On average, research analysts anticipate that Trustmark will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s payout ratio is presently 25.88%.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.